Start Down India, Stand up MCA21

What is MCA21 (or MCA@! as some company secretaries writing it in private chat)? Today, one article published in a newspaper link here, tried to explain this most trusted mission mode project by Government of India which became most taunted Mast Mood Project by Corporate of India.

The Story starts unfolding when one corporate contractor took over from another. In a public event, an officer of a company claimed to took over the bullock cart.

When infy tookover mca fm tcs infy project incharge made a comment we took over Bullock cart. Now seems u are failing short of astronauts

However, every next day, what is later claimed as “teething trouble” unveiled. It was rumored that corporate rivals failed to do a professional smooth transfer. Later many maintenance issues became routine for months. Some professionals practicing in corporate law compliances, developed insomnia partly due to working late night or client’s disgraceful language. One of senior Company Secretary in Practice even shared me a planning to die with shame.

According to this newspaper report, Right from the beginning, Infosys found itself facing issues, resulting in the then United Progressive Alliance government asking TCS to step back in and help Infosys with the transition.

However, the bullock cart has to be transformed. On 27th March 2016, MCA21 became a space shuttle with launching of MCA21 – V2. Things got a little complicated when Infosys had to upgrade the current IBM WebSphere platform. System collapsed; and so the luck of thousands of company secretaries and companies.

Very soon public exhausted anger on various platform depending upon risk appetite.

After few days of wait, professional representations and complaints rushed to Shastri Bhawan, mighty head quarter of MCA – Ministry of Corporate Affairs and this circular came to rescue for the Government.

A circular issued by MCA dated 12th April 2016 recognized the plinth of professionals and many of us halted the filing with long holiday till 10th of May 2016. This was happened just after launching of much hyped “Start – up India” initiative by the Government of India. When Government of India, is talking about “Make in India” by “Start up India” main platform launching new companies in India collapsed in publically acknowledged manner.

When Money Life came with its story on MCA failure on 22nd April 2016, it became hit among professionals. Many professionals rushed to their corporate management to represent their side of trouble more authentically.

That evening, complaints start flowing through Sucheta Dalal, senior journalist and Amitabh Kant, CEO, NITI Ayog. Our friend and co – blogger CS A Rengarajan form Chennai was active on social media and interacting with many journalists and ministers. His hard – work paid result.

However, general public, professional community and journalists started questioning professional bodies like ICSI and ICAI. It was suggested by Ministry and officers that their council members failed to communicate ground realities to the concerned officers. Same times, these Council Members need to be diplomatic and polite before the Ministry which regulate these bodies and some times considered as “Mai – Baap”.

The story though seems to be against Infosys but in closing paragraphs, it tried to give very rosy picture from Infosys angle. But ire did not settled but grew with repeat publication of the story next days.

Soon tweets start flooding directing to Amitabh Kant and Nirmala Sitaraman, in absence of any other responsible officer or minister. Some seems to be next level of war against Infosys by victim of MCA21. Even, industry insiders or public relation machinery of Infosys starts suggesting war by higher bidder, which eventually lost the prestigious project, the TCS.

Story is still on and solution is yet to come. I do not know who is real culprit – MCA, TCS, Infosys, Congress or BJP but India is victim in general and company secretaries in particular. We have to wait to Start Up India.

Writer of this blog, Aishwarya Mohan Gahrana is Practicing Company Secretary and Insolvency Professional working with M/s Aishwarya M Gahrana & Associates, a New Delhi based peer reviewed firm of company secretaries having pan India presence through friends and associates. This blog is a knowledge sharing initiative. Views expressed here is of writer; not of the organization(s) he is working with.